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Economists (including at least one in my PhD graduating class) have often tried to show that college doesn’t produce useful skills. But I think that this is missing the point; useful skills, which you mostly learn on the job, are not the only valuable form of human capital. There are three extremely important forms of human capital that you can’t acquire on the job:

1) Motivation,

2) Perspective, and

3) Human networks.

Noah Smith on what college is for. 

(↬ Marginal Revolution)

6-13-2012
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